REG - Oncimmune Hldngs PLC - Commercial momentum in ImmunoINSIGHTS

Oncimmune HoldingsAnnouncement

07/12/2021 07:00

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RNS Number : 7478U  Oncimmune Holdings PLC  07 December 2021

7 December 2021

 

 

Oncimmune Holdings plc

 

("Oncimmune" or the "Company")

 

 

Commercial momentum in ImmunoINSIGHTS

 

Significant Q2 FY2022 sales activity leading to signed contracts

 

Expansion of business development team in US and Europe

 

Oncimmune Holdings plc (AIM: ONC.L), the leading global immunodiagnostics
group, today provides an update on commercial activity within its
ImmunoINSIGHTS pharma services business.

 

As we highlighted in the full year results announcement released on 2 November
2021, the ImmunoINSIGHTS pharma services business has been benefiting from a
ramp-up in commercial activity moving into Q2 FY2022. During this second
quarter ended 30 November 2021, a number of contracts were signed for both new
customers as well as for customers for whom we have already completed studies.
As a result of this activity, the ImmunoINSIGHTS business has posted its
biggest quarter by contract wins since the business was launched in February
2020.

 

Whilst respecting commercial confidentiality, summary details of a number of
these ImmunoINSIGHTS contracts is provided as follows:

 

·      a collaboration contract with a new large pharma partner
headquartered in Germany, to characterise the Immunoglobulin G (IgG)
autoantibody profiles of patients in clinical trials for Systemic Lupus
Erythematosus (SLE) 1  (#_ftn1) . The study will explore baseline autoantibody
profiles as biomarkers of disease, adverse events and clinical response in
patients. ImmunoINSIGHTS will use its proprietary NavigAID SLE panel to
characterise autoantibody profiles from trial participants in a pilot project;
and

 

·      a contract with another new large pharma partner to characterise
the autoantibody profiles of patients in clinical trials for SLE(1). In this
new project, ImmunoINSIGHTS will use its proprietary SeroTag panel to
characterise autoantibody profiles from trial participants. Following
completion of this project, there will be further contracting opportunities
for additional samples. One objective of this project includes better
characterisation of the disease, where there is a high unmet need for an
effective therapy

 

These and other large pharma contracts add to the stable of biotech contracts
signed earlier in FY2021, under which work is currently being progressed in
the ImmunoINSIGHTS facility in Dortmund, Germany. In addition to these recent
contract wins, there are a number of further contracts which are expected to
be signed this month, including a further contract with another existing large
pharma partner. A further commercial update is expected to be issued before
Christmas with details of these further contract wins. The servicing of these
contracts has been made possible following further investment in equipment and
personnel to scale up the Dortmund facility.

 

At the time of the equity fundraising in March 2021 to support this growth,
the Company also identified the need to expand its sales and business presence
in the US to meet the growing demand for commercial engagement from US-based
pharmaceutical and biotech companies. The Company is therefore pleased to
announce the appointment of Cameron Barnard to the position of Chief Business
Officer. Cameron joined the Company in late August and is based in Boston,
USA. Cameron has already made an immediate impact on contract wins as well as
building the US-based commercial team using some of the proceeds from the
equity raise.

 

Following a recent market analysis performed by an independent strategy
consultancy, we are able to size the potential demand for the ImmunoINSIGHTS
pharma services with greater accuracy. In order to capitalise on this demand,
it is anticipated that the commercial team will be expanded to comprise
multiple sales executives based in the US and a growing team of sales
executives based in Europe. The appropriate sizing of these teams will be
determined before the end of the current financial year. This significantly
enlarged commercial team is expected to generate significant pipeline
opportunities and sales momentum during FY2022 and beyond.

 

Cameron Barnard, Chief Business Officer of Oncimmune, said: "I am excited to
have joined Oncimmune and lead a team that is quickly becoming the partner of
choice and global leader in immunodiagnostics. Our ImmunoINSIGHTS platform has
vast commercial potential with its robust technology, proven utility in
support of critical clinical therapeutic development, and a highly experienced
scientific team. The potential for ImmunoINSIGHTS has been validated by my
network of commercial professionals and pharma and biotech contacts. I am in
the process of building a world-class demand generation and conversion team to
further capture the impressive commercial opportunity available to the
Company."

 

Dr Adam M Hill, CEO of Oncimmune, said: "The commercial momentum we have
experienced in Q2 FY2022 has not only resulted in contract wins but is
expected to lead to further signed contracts in the coming weeks and,
importantly, throughout Q3 FY2022 and beyond. Our key customers continue to
provide follow-on contracts and our expanding commercial team is not only
growing our commercial pipeline but also delivering a broadening and deepening
of our customer relationships."

 

 

For further information:

 

Oncimmune Holdings plc

Dr Adam M Hill, Chief Executive Officer

Matthew Hall, Chief Financial Officer

contact@oncimmune.co.uk (mailto:contact@oncimmune.co.uk)

 

Singer Capital Markets (Nominated Adviser and Joint Broker)

Aubrey Powell, Harry Gooden, George Tzimas, James Fischer

+44 (0)20 7496 3000

 

WG Partners (Joint Broker)

David Wilson, Nigel Barnes

+44 (0)203 705 9321

 

Media enquiries:

FTI Consulting

Ben Atwell, Michael Trace, Alex Davis

Oncimmune@fticonsulting.com (mailto:Oncimmune@fticonsulting.com)

+44 (0)20 3727 1000

 

About Oncimmune

 

Oncimmune is a leading immunodiagnostics developer, primarily focused on the
growing fields of immuno-oncology, autoimmune disease and infectious diseases.
Oncimmune has a diversified and growing revenue both from its portfolio of
diagnostic products to detect early-stage cancer and its contract discovery
and development service business whose platform delivers actionable insights
into therapies to the Company's pharmaceutical and biotech partners.

 

Our understanding of the immune system enables us to harness its sophisticated
response to disease to detect cancer earlier and to support the development of
better therapies. The key to improving cancer survival is early detection and
better selection for therapy. As a company, we are driven by our passion to
improve cancer survival and to give people extra time.

 

Oncimmune's ImmunoINSIGHTS platform enables life science organisations to
optimise drug development and delivery, leading to more effectively targeted
and safer treatments for patients. Oncimmune's immunodiagnostic technology,
EarlyCDT, can detect and help identify cancer on average four years earlier
than standard clinical diagnosis. Our lead diagnostic test, EarlyCDT Lung,
targets a vast market estimated to grow to £3.8bn by 2024. With over 200,000
tests already performed for patients worldwide and its use being supported by
peer reviewed data in over 12,000 patients, we are poised to become an
integral component of future lung cancer detection programmes, globally.

 

Oncimmune's diagnostic products business is located at its laboratory facility
in Nottingham, UK and its ImmunoINSIGHTS service business at its discovery
research centre in Dortmund, Germany. The ImmunoINSIGHTS business development
team are based in the US and Oncimmune is seeking to replicate the Dortmund
facility in the US in the medium term.

 

For more information, visit www.oncimmune.com (http://www.oncimmune.com)

 

What is ImmunoINSIGHTS?

 

The ImmunoINSIGHTS service business leverages Oncimmune's technology platform
and methodologies across multiple diseases, to offer life-science
organisations actionable insights for therapies across the development and
product lifecycle. Our core immune-profiling technology is underpinned by our
library of over eight thousand immunogenic proteins, one of the largest of its
kind. This helps identify trial participants and patients into clinically
relevant subgroups, enabling development of targeted and more effective
treatments.

 1  (#_ftnref1) SLE is a chronic, incurable autoimmune disease associated with
multiple symptoms which can flare up over time. Diagnosis of SLE can be
challenging.

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